Jiangsu Yangnong Chemical's sales up 35% in 2013

Date:06-05-2014

Chinese agrochemical company Jiangsu Yangnong Chemical Co., LTD achieved sales of Yuan 3,005 million ($481.1 million at the current rate) in 2013. The company’s annual profit reached Yuan 456 million ($73 million), with Yuan 378 million ($60.5 million) attributable to the shareholders. The year-on-year growth of those three figures was 35.4%, 96.7% and 94.6%, respectively.


In 2013, Yangnong Chemical continuously deepened the strategic cooperation with multinational corporations. The sales of self-exporting products reached Yuan 2,225 million ($356 million), up by 33.5% compared with last year. Additionally, sales in domestic market reached Yuan 750 million ($120 million), up by 44.2% compared with last year.

Five new products have been successfully developed by the company in 2013. In addition to that, 3 formulation products were launched in market; while 5 products were subject to small or small-to-medium scale production; and another 4 products were optimized. In addition, a key laboratory of pesticide clean production technology has been established last year.

One of the products, meperfluthrin has been successfully declared in the project of New technology and New product Promotion issued by Jiangsu Economic and Information Technology Commission. Additionally, the company has claimed 10 patents, and has already obtained 17 authorizations in 2013. One of the products, heptafluthrin, has received patent authorization notification from US.

The company also reported that a holding subsidiary based in coastal economic development zone, Rudong County, Jiangsu Province was set up in 2013. The registered capital of this subsidiary was Yuan 200 million ($32 million). The capital for the first-stage project was Yuan 614.28 million ($98.34 million), including Yuan 505 million ($80.9 million) used for construction. The pre-approval procedures for 5,000 tonnes/a dicamba production were finished, as well as the procedures for the other three projects. The construction of production lines was planned to start in 2014.

Outlook

In 2014, Yangnong Chemical will continue to deepen the strategic cooperation with multinational corporations, stabilize oversea sales, increase the market share for both public health and agrochemicals, and promote the balance of export and import sales. Meanwhile, the company will fully push forward the construction of Rudong holding subsidiary to ensure the entering of trial production phase in 2014.